Canara Bank Mortgage Loan [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2022]



Canara Bank Mortgage Loan

About Canara Bank : Canara Bank has become a bigger banking entity after it took over the banking operations of Syndicate Bank. It has had a long history of mergers and acquisitions of other banks.

The bank even takes the responsibility of sponsoring four other regional banks: Karnataka Vikas Grameena Bank, Andhra Pragathi Grameena Bank, Karnataka Gramin Bank, and Kerala Gramin Bank.

The bank deals in all these services that range from Investment banking, Mortgages, Private banking, Retail banking, Asset management, Commercial banking, Pensions, and Credit Cards.

Headquarter: Canara Bank has its headquarters in Bangalore, the capital of Karnataka, India. The Canara Bank Hindu Permanent Fund and Ammembal Subba Rao Pai established the bank 116 years ago on July 1st, 1906, in Mangalore.

Number of employees: According to the data available as early as March 2021, Canara Bank hires a total of 88,213 employees for its banking operations to continue seamlessly. The bank merged with Syndicate Bank on April 1, 2020, when the COVID-19 pandemic was in full swing.

Number of Branches & ATM: Canara Bank has a total of 9877 Branches & 13124 ATMs (Automated Teller Machines). In addition to London, Hong Kong, Dubai, and New York, the bank maintains offices in London, Hong Kong, and Dubai.

Canara Bank made its first purchase in 1961 when it bought Bank of Kerala. Canara Bank purchased four banks in 1963: the Sree Poornathrayeesa Vilasam Bank, Thrippunithura, Arnad Bank, Tiruchirapalli, Cochin Commercial Bank, Cochin, and Pandyan Bank, Madurai.

Rate of Interest : 10.35%  Per Annum

Loan Amount : Rs. 10 Crore

Maximum Tenure : 10 Years

Processing Fee : 0.5% of the Loan Amount + GST 

Prepayment Charges : NA

 Yearly Income : As Per Loan amount Requirements

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